Sunday newspaper round-up: Saudi oil output, Asos, 35-year mortgages

Asos received a £1bn takeover offer from Turkish rival Trendyol in late December, according to City sources. Among the Turkish outfit's backers was Chinese online retailing giant Alibaba. The offer would have valued Asos at £10-12 per share, against a closing price last Friday of £3.5. There were however no live talks and both companies declined to commit. Recently, leading credit insurers had demured from providing cover for its suppliers or reduced the same. a decision that could squeeze its cash flow. - The Sunday Times

A record proportion, or 19%, of first-time homebuyers were taking out 35-year mortgages and more in the wake of soaring costs. That was the highest share since 2005, when records began, and twice the 9% seen in December 2021. The average age of a first time buyer was now 32, according to Halifax, meaning that many persons' intention was to continue borrowing until the end of their work life and even into retirement. - The Sunday Telegraph

Sky's UK boss believes the country is entering a 'golden age' of film and television. Spend on both combined hit a record £6.2bn in 2022, which was £1.83bn more than before Covid. Furthermore, just last month ministers promised additional support as part of a strategy to add over 1m jobs in creative industries over the next decade. - The Financial Mail on Sunday